Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down – Time to Sell?

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down before the market opened on Friday . The stock had previously closed at $42.16, but opened at $40.05. Direxion Daily FTSE China Bull 3X Shares shares last traded at $41.0690, with a volume of 434,284 shares.

Direxion Daily FTSE China Bull 3X Shares Stock Up 1.4%

The company has a market cap of $888.56 million, a price-to-earnings ratio of 8.49 and a beta of 0.93. The business has a fifty day simple moving average of $44.75 and a 200 day simple moving average of $47.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its holdings in Direxion Daily FTSE China Bull 3X Shares by 6.0% in the third quarter. Parallel Advisors LLC now owns 5,300 shares of the exchange traded fund’s stock valued at $288,000 after buying an additional 300 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% in the 2nd quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock worth $128,000 after acquiring an additional 800 shares during the period. Ping Capital Management Inc. increased its stake in Direxion Daily FTSE China Bull 3X Shares by 1.8% in the 3rd quarter. Ping Capital Management Inc. now owns 58,000 shares of the exchange traded fund’s stock valued at $3,149,000 after purchasing an additional 1,000 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the fourth quarter worth $43,000. Finally, Flow Traders U.S. LLC raised its holdings in Direxion Daily FTSE China Bull 3X Shares by 5.7% during the third quarter. Flow Traders U.S. LLC now owns 21,349 shares of the exchange traded fund’s stock worth $1,159,000 after purchasing an additional 1,152 shares during the last quarter.

About Direxion Daily FTSE China Bull 3X Shares

Direxion Daily China Bull 3x Shares ETF (the Fund) seeks daily investment results of 300% of the price performance of the BNY China Select ADR Index (the China Index). The China Index is a free float-adjusted capitalization-weighted index designed by the Bank of New York to track the performance of a basket of companies who have their primary equity listing on a stock exchange in China and which also have depositary receipts that trade on a United States exchange or on the National Association of Securities and Dealers Automated Quotation.